However, there will be further updates - and reaction - in our LIVE blog throughout the course of the evening.

Grimsby Town TakeoverLiam Wood

Have your say!

Another chance to share your say on today’s huge development;

Grimsby Town TakeoverLiam Wood

EFL checks and due diligence

Again, just to reiterate, this proposed takeover is much further down the line than rumour.

As we understand it, relevant checks with the EFL have been undertaken - and passed - although there is more red tape to go through. Once again, we really welcome hearing what YOU have got to say on the development.

More views from GTFC fans

A wide range of reaction is coming through from supporters, with a wide range of opinions too;

Chris Parker said: “To a degree it is up to us to MAKE it an exciting future, jump on the bandwagon and keep banging the drum of positivity. As supporters it is as much as we can do.”

Carl Devonport posted: “If these takeover rumours are true next season BP will be full.”

Grimsby Town TakeoverLiam Wood

Reaction from John Fenty

GrimsbyLive made contact with John Fenty earlier today.

As expected, he remained tight-lipped about the proposals. It would not be in the clubs best interest to speak at length right now. However, he did manage to tell us this;

Our door is always open and we would welcome people to join the board in order to take the club forward, so long as there is tangible evidence that they can do that and ensure what is in the best interest of the club and the wider community.

What the club's fans think

Philip Fountain said: “This is great news and can only be good for the future of GTFC. Excited times ahead I hope.”

Adam King posted: “I’ve heard these rumours far to many times, although this does seem like the furthest it has gone. I seriously hope that it is true and we can move forward.”

Grimsby Town TakeoverLiam Wood

A takeover is drawing closer

Of course, that is an EFL-led process that determines whether or not someone - or a company - has the capacity and funds to own, run or be involved in the day to day running of a football club.

We understand that a potential new owner is now undertaking due diligence.

Grimsby Town TakeoverLiam Wood

What we know so far

In case you are just joining us this evening, there has been a HUGE development in a proposed takeover at Grimsby Town.

It is thought that the interested party - a London-based business person with strong links to the area - has passed the owners’ and directors’ test that is necessary for an individual, or company, to assume control of a football club.

Grimsby Town TakeoverLiam Wood

Reaction to takeover

Here is a snap-shot of the reaction we have seen so far, minus a few questionable GIFs of course.

Alex Dwyer said: “Not getting excited until I see an official announcement me.”

William Harrison posted: “Let’s not get carried away until something is official. Lots of things could still happen.”

Jonathan Bell added: “Oh my. Could it be? Finally... Will shift a few more season tickets if this happens.”

Grimsby Town TakeoverLiam Wood

Reaction from supporters

As you can imagine, there have been plenty of posts on social media - and beyond - since we broke this news.

It's quickly gathered pace

This latest breakthrough comes just weeks after Mr Fenty – who stood as chairman between 2004 and 2010 – suggested that the board has, as of late May, only dealt with ‘tyre kickers’ in their quest to welcome outside investment.

Grimsby Town TakeoverLiam Wood

Directors of the club

In terms of the latest development today, it’s understood that is when current directors of the club received letters outlining the proposals. There are also strong suggestions that a general restructure of the club has already, provisionally, been put in place.

Grimsby Town TakeoverLiam Wood

Initial talks date back months

Back at Blundell Park, it’s thought that the initial talks took place several months ago, with until now steady progress being made towards a potential takeover.

Now, though, it is very much on the cards ahead of the 2019/2020 season. As you can expect, we have already had plenty of reaction from Town fans across the board.

Grimsby Town TakeoverLiam Wood

Across the board in League Two

Ownership, and takeovers, has always been a hot-topic in football. Indeed, there have been one or two notable developments across the board in League Two recently.

Port Vale were subject to a takeover in May, while relegated duo Notts County and Yeovil Town have long-since been linked with potential investors.

Grimsby Town takeoverLiam Wood

Have your say!

A chance to share your say on today’s huge development;

Grimsby Town TakeoverKEY EVENT

Due diligence

In simple terms, once the relevant checks are made by the EFL – and passed – potential owners then have to undertake due diligence, which is what we understand may be happening at this stage.

Grimsby Town TakeoverLiam Wood

Owners and directors test

With regards to the below, I spoke with representatives at the EFL earlier today.

As you would expect, they were tight-lipped on this as an individual case, but the governing body were able to shed more light on the process that leads to the takeover of a club.

Grimsby Town TakeoverLiam Wood

John Fenty

As things stand, director John Fenty is one of three significant shareholders at the club;

John Fenty: 42.82 per centMike Parker: 21.96 per centMariners Trust: 14.10 per cent

Grimsby Town TakeoverLiam Wood

EFL checks have been made

We understand that the interested party has passed an owners’ and directors’ test which, in essence, is a Football Association and Football League (EFL) led process that determines whether or not an individual, or company, has the capacity or necessary funds to own and operate a football club.

Grimsby Town TakeoverLiam Wood

A deal is close

John Fenty, the majority shareholder, has long-since publicised his – and the board’s – desire to welcome fresh investment on board.

We understand that a deal is VERY close, ahead of the 2019/2020 season.

We have been checking this out all day and now believe that a new owner is being lined-up to take over the club.

Grimsby Town TakeoverKEY EVENT

Looks like takeover is ON!

Good afternoon GTFC fans. A dramatic change of pace for us this afternoon.

It’s not about potential new signings, or tactics, ahead of the new season.

We understand there has been a huge development in a proposed takeover at the club.